🔴 MELI is trading 6% down today on escalating geopolitical tensions and surging oil prices

MELI is trading at $1670.10 (-6.02%) as of March 3, 2026, underperforming the broader market despite a lack of company-specific news or events.

• Major indices are sharply lower, with the S&P 500 down 1.91%, the Nasdaq down 1.90%, and the Dow down 2.15%.
• The selloff is driven by the escalating U.S.-Israel-Iran conflict and the closure of the Strait of Hormuz, which has triggered a surge in oil prices and a global shift toward risk-off sentiment.